Looking for information about your firm's panel status?
MBS Lending Ltd Conveyancing Panel Assistance:
What are the MBS Lending Ltd conveyancing panel arrangements?
Unlike the CML the Building Society Mortgage Instructions deal with this. Section A.12 states ‘In order to act on our behalf your firm or company must be a member of our conveyancing panel provided we are a society that operates one – see specific requirements for details of our arrangements.
The Special Requirements state:
All conveyancers are subject to panel requirements and must be approved onto the MBS Lending's conveyancing panel. Please refer to the mortgage completions team if further information is required.
You must also comply with the terms and conditions of your MBS Lending Ltd solicitor panel appointment.
Can my practice make a complaint to the BSA about being removed excluded suspended from the MBS Lending Ltd conveyancing panel?
The BSA is not a regulator and therefore do not investigate complaints against lenders. You can of course contact Lexsure to see if we can assist.
Will the fact that my firm subscribes to Alerts via this site assist in my application to join the MBS Lending Ltd solicitor panel?
The requirements to join the MBS Lending Ltd conveyancing panel is likely to be fairly detailed and is unlikely to include signing up to LENDERmonitor alerts.
Why did the BSA introduced its own instructions?
The BSA introduced it’s Mortgage Instructions in 2010 to ensure that licensed conveyancers or solicitors on a building society conveyancing panel had full access to a complete set of standardised mortgage instructions.
My firm is not on the MBS Lending Ltd solicitor panel among other lenders . My clients, who have applied for a mortgage with MBS Lending Ltd still want me to act for them regardless of the fact that we are not on the MBS Lending Ltd panel. Is it fine for me to use a firm down the road to represent MBS Lending Ltd on mortgage aspect of the conveyancing?
Please tread carefully here as what you are proposing may not be acceptable to the lender.
It is possible that you (as a non-panel firm) or the mortgage applicant are not entitled instruct a panel firm of your choice. Many lenders make it clear to their panel firms that where a non-panel member firm is instructed by one of their mortgage applicants, the lender must appoint a panel firm to carry out its instructions and to liaise with the borrower's conveyancer.
You also need to make the costs implications and potential for delay very clear to your client.
I recently attended a seminar arranged via my PI broker where it was mentioned that solicitors are being sued for non-compliance with BSA Mortgage Instructions. I am on the MBS Lending Ltd conveyancing panel. Can you tell me how many Specific Requirement changes took place by MBS Lending Ltd during 2013?
During this period 30 sections of the BSA Mortgage Instructions were changed by MBS Lending Ltd. Some changes are more important than others but as a firm on the MBS Lending Ltd conveyancing panel you are of course obliged to comply with individual lender requirements. Locktons have recently pointed out in an article that non-compliance with lender requirements account for a number of high value claims, and it is therefore important to be aware of any particularly onerous terms that an individual lender may impose.
Remember: BSA requirements are not guidelines; they are the lender client’s instructions.
I seldom receive a copy of a lender valuation any more. Does the extent of my MBS Lending Ltd conveyancing panel obligations extend to checking the valuation details where I am acting on a purchase with MBS Lending Ltd as the Mortgagee?
You have a number of obligations in this regard which are to be followed if you wish to comply with your lender client’s instructions as set out in the BSA Mortgage Instructions. First, You must take reasonable steps to verify that there are no discrepancies between the description of the property as compared to their old address.
What lender panels do you receive the most questions about?
BSA lenders do not come within the top 20 lenders in terms of
frequency of questions. The most popular lender panels in terms of
questions are as follows:
Find a Lawyer on the MBS Lending Ltd Conveyancing Panel
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Average number of days to register title including a charge in favour of MBS Lending Ltd
This information relates to purchase only and not remortgages.
| Year | Days* |
|---|---|
| 2025 | [no data] |
| 2024 | [no data] |
| 2023 | [no data] |
| 2022 | [no data] |
| 2021 | [no data] |
| 2020 | [no data] |
* Data aggregated from sources including COMPLETIONmonitor
Other related topics:
- CQS policy templates and procedures for accredited MBS Lending Ltd Firms
- Draft Report on Title precedent for MBS Lending Ltd borrowers
- Draft Anti Money Laundering PolicyTemplate for MBS Lending Ltd panel firms to consider
- Dealing with Lender Policy Template panel for CQS accredited firms on the MBS Lending Ltd lender panel
- Buy-to-Let help for MBS Lending Ltd
- Consent-to-Let help for MBS Lending Ltd
- Contractor Mortgages with MBS Lending Ltd
